30 November 2017

Liberia: 'LBDI Playing a Pivotal Role in Banking Sector, Despite Challenges'

LBDI president John B. S. Davies, III (second from right), along with Elie E. Saleeby, president of Premier Milling Corporation, who served as keynote speaker and others at the high-table during the bank's 52nd anniversary celebration held in Sinkor, Monrovia

The Liberia Bank for Development and Investment (LBDI) has and continues to play a pivotal role in controlling the banking sector in the wake of the huge economic challenges that continue to confront the country, according to its president and Chief Executive Officer (CEO), John B. S. Davies, III.

Davies made the assertion on Tuesday during the program commemorating the 52nd anniversary of the bank held at its head office in Sinkor, where he said the LBDI has made numerous gains over the years, including building the capacity of its employees.

He said the bank is persistent in making strides amid the extremely challenging economic conditions that have beset the country of late.

The anniversary was marked by the honoring of several of its long serving employees who served from 10 to 25 years with dedication to the institution.

According to Davies, the banking sector is going through its transformation and LBDI now caters to 334,000 customers with a total of staff 364.

He noted that if the banking sector was not strong, there would be a serious collapse of financial institutions.

But despite all the challenges, he said they persevered and the LBDI continues to play a pivotal role in superintending and coordinating the affairs of the banking sector in the country.

Today, "The LBDI is currently in eight of the 15 counties and with a plan to extend it to the remaining counties. We have established 18 additional branches in other locations," he said.

"We are confident in our abilities to deliver continuously with the joy and energy we have. To date, our economy has undergone difficult challenges, but we are confident that as we surmounted the civil crisis and the scourge of Ebola in 2014 and 2015, and will overcome the political tension in Liberia," he said.

Guests and staff of LBDI at the bank's 52nd anniversary celebration held on Tuesday in Sinkor

He observed that constructive criticism of the bank's staff has helped in achieving such a milestone over the years, urging them (staff) to remain dedicated and focus to help the bank to accomplish more.

Today, he said, "LBDI holds the seat as the vice president of the West African Bankers' Association. The LBDI has assumed its role within the six comity finance institutions in Africa, which is being made available through the hardworking staff.

"As we look at the 52nd year of our existence, we want to applaud you for the selfless sacrifice and commitment to the institution and also our predecessors for making us reach this far. We appreciate you for helping to hold our hands and guide us along the way," he said.

He lauded staffers who spent 10 years, 20 years and 25 years of service to the bank, adding "We believe that your service and commitment are worth emulating, because it is a tough situation."

Elie E. Saleeby, president of Premier Milling Corporation, who served as keynote speaker, said he was impressed with the level of progress made by the bank and its president over the years to ensure that the quality of service is maintained.

Saleeby in his short address highlighted some of the milestones of the bank, including promoting broad-based economic development and amending of the bank's act among others.

According to him, some of the milestones have helped the bank to reach the level it is presently at, lauding the president and staff for sustaining the gains and their continued effort to achieving more.

Johnson K. Baysahwala, Jr, who spent 25 years with the institution, lauded the management and staff for the level of coordination, commitment and dedication to the bank.

He attributed his long stay at the bank to honesty and cordial working relationships with past and current management, urging colleagues to follow-suit and remain committed.

"Don't be carried away by cars, materials and money you play with. People with long hands are always prone to falling into problem. Be committed, dedicated and sincere in your transactions or service," he added.

Liberia

Legislators Unhappy Over New Election Date

The December 26 date for the runoff of the 2017 presidential elections might be altered by the Legislature as the… Read more »

Copyright © 2017 Liberian Observer. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 900 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.